IDCOL provides Tk 500cr financing for BSRM’s new eco-friendly steel plant

The Infrastructure Development Company Limited (IDCOL) has provided Tk 500 crore to finance the newest steel manufacturing plant of BSRM Steels Limited in Mirsharai, Chittagong.

The new BSRM plant, launched on February 1 this year, is set to be a game-changer for Bangladesh's steel industry. It will produce 500,000 tonnes of rebars, 100,000 tonnes of wire rods, and 250,000 tonnes of billets annually.

The plant will create hundreds of new jobs and provide greater support for local businesses in the supply chain, according to a press release.

IDCOL had provided Tk 300 crore in a syndicated loan to BSRM Steels Limited's earlier facility.

With this, IDCOL is the largest term-loan financier for the annual 1.6 tonnes rolling and 1.8 tonnes melting project.

This latest financing reinforces IDCOL's strategy of fostering industrial innovation without compromising environmental integrity.

The facility features energy-efficient equipment, an advanced air pollution control system for cleaner emissions, and a cutting-edge water recycling system. Additionally, by repurposing steel slag for construction materials, it aligns with global circular economy practices.

At the launching ceremony of the new plant of BSRM Steels Limited, Alamgir Morshed, executive director and CEO of IDCOL, said, "IDCOL believes that industrial progress and environmental sustainability must go hand in hand."

"Our investment in BSRM is not just about funding a plant—it's about setting a new standard for responsible manufacturing in Bangladesh," he added.

This initiative is more than an infrastructure project; it is a bold step towards a future where industries thrive in harmony with the environment.

With IDCOL leading the charge, Bangladesh's industrial landscape is being reshaped with sustainability at its core.